W. E. Donoghue & Co. LLC Invests $2.32 Million in Wynn Resorts, Limited (WYNN) Stock
W. E. Donoghue & Co. LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,280 shares of the casino operator’s stock, valued at approximately $2,318,000.
Other hedge funds have also made changes to their positions in the company. MARSHALL WACE ASIA Ltd bought a new position in Wynn Resorts, Limited in the first quarter valued at approximately $1,893,000. Monetta Financial Services Inc. bought a new position in Wynn Resorts, Limited in the second quarter valued at approximately $1,542,000. Maverick Capital Ltd. boosted its stake in Wynn Resorts, Limited by 36.9% in the second quarter. Maverick Capital Ltd. now owns 1,260,248 shares of the casino operator’s stock valued at $169,024,000 after acquiring an additional 339,550 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Wynn Resorts, Limited by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 228,967 shares of the casino operator’s stock valued at $30,709,000 after acquiring an additional 811 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in Wynn Resorts, Limited in the second quarter valued at approximately $5,666,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on WYNN. TheStreet cut shares of Wynn Resorts, Limited from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Deutsche Bank AG set a $161.00 price objective on shares of Wynn Resorts, Limited and gave the company a “buy” rating in a research note on Monday, October 16th. Citigroup Inc. raised their price objective on shares of Wynn Resorts, Limited to $161.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Morgan Stanley lifted their price target on shares of Wynn Resorts, Limited from $151.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $134.00 price target on shares of Wynn Resorts, Limited in a research report on Thursday, October 12th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Wynn Resorts, Limited presently has an average rating of “Buy” and an average price target of $137.52.
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Shares of Wynn Resorts, Limited (NASDAQ:WYNN) opened at 144.44 on Friday. Wynn Resorts, Limited has a 52 week low of $82.51 and a 52 week high of $150.40. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 54.06 and a beta of 1.67. The firm has a 50-day moving average of $144.80 and a 200 day moving average of $132.67.
Wynn Resorts, Limited (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 44.5% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post $5.07 earnings per share for the current fiscal year.
In other Wynn Resorts, Limited news, EVP Kimmarie Sinatra sold 21,451 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $143.62, for a total value of $3,080,792.62. Following the transaction, the executive vice president now directly owns 223,443 shares of the company’s stock, valued at $32,090,883.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $143.44, for a total transaction of $6,153,576.00. Following the completion of the transaction, the president now directly owns 350,586 shares in the company, valued at $50,288,055.84. The disclosure for this sale can be found here. Insiders sold 67,351 shares of company stock worth $9,621,369 over the last ninety days. Insiders own 13.20% of the company’s stock.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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